Morning Roundup (5/16/2023) — Digital Closings

Good Morning! Today is Tuesday, May 16. President Biden and Speaker Kevin McCarthy are meeting today to try to strike a debt limit deal. An assailant with a baseball bat attacked two aides to a Democratic congressman in Virginia. A gunman killed three people on a residential street in New Mexico before being killed by police.

The Mortgage Note Reports

Digital Closings: The founder and CEO of the digital closing platform Snapdocs says adopting a technology strategy that reduces costs can help mortgage lenders now and as the market bounces back. Editor Kimberley Haas recently sat down with Aaron King.

Chenoa Rebrand: CBC Mortgage Agency is celebrating its 10-year anniversary by rebranding its correspondent investor and Chenoa Fund Program.

New Branch: Industry vet Jodi White joins First Home Mortgage as branch manager of its new Gainesville, VA, office.

Spring Podcast: TMN’s team has been tracking national trends and the ways companies are attracting buyers and sellers to the market. Check out our spring podcast.


TMN Presents: The Mortgage Meltdown Meter, a collection of articles from the market correction, updated daily. Click here to stay on top of the changing landscape.

In other mortgage and housing news…

Lowest-Ever Confidence: Fewer Americans now than ever before believe it is a good time to buy a house and are struggling to believe home prices may deflate in the future.

“The Fever Is Breaking”: More than 90% of metros saw rent growth decline in Q1, but spending 30% of your income on rent is still the new normal in many.

Homes For Weed Workers: Paramount Residential Mortgage announced it is offering non-QM residential loans to borrowers in the cannabis industry.

Retail Sales Rebound: Spending at US retailers rose in April following two months of declines, up by 0.4% from the prior month.

GSE Pricing Input: The FHFA issued a request for input on Fannie Mae and Freddie Mac’s single-family pricing framework.

M+LS Deal: Wells Fargo-backed fintech Maxwell will acquire LenderSelect Mortgage, a mortgage solutions provider from Blue Ridge Bank.